What is the purpose of a patent?

The purpose of a patent is to grant exclusive rights to a property issued by the Patent Office. When an inventor applies for and is granted a patent, they receive the legal rights to their invention for a specified period of time, typically 20 years from the filing date for utility patents. This exclusive right means that the patent holder can control how their invention is used, manufactured, or sold, effectively preventing others from exploiting their invention without permission.

The system of patents encourages innovation by giving inventors a temporary monopoly on their creations, which can motivate them to invest time and resources into the development of new technologies. It balances the inventor's interests with the public interest by eventually disclosing the invention to the public domain after the patent expires. This allows society to benefit from the innovation while providing an incentive for individuals to create new inventions.